The Research Of Chinese Small And Medium-Sized Enterprise Credit Guarantee System Construction

The small and medium-sized enterprise financing (SME financing) is a universal problem which many countries are positively seeking solutions to. In China, there are two basic concepts. First, the establishment of an exterior credit guarantee system to increase SME credit. The second is the establishment of a specialized SME credit rating system, which reduces the admittance criteria and reduces financing pressure.Aiming at several problems of Chinese small and medium-sized companies encounter such as relatively backward credit guarantee system, imperfect structure, difficulty in guarantee funds compensation, extensive security risk management, unsatisfactory credit support and legal environment, and inefficiency in fully meeting the financing needs of SMEs, concludes that the strengthening of China's credit guarantee system for small and medium-sized building is imperative. The component elements of China's credit guarantee system for small and medium-sized are systematically discussed in this paper. By conducting comparative analysis, compared with developed countries, the Chinese credit guarantee system for small and medium enterprises is found inferior in its integrity and influence. By studying the successful experience of developed countries, proposing the implement of a modern enterprise system for the Chinese credit guarantee system is urgent. This includes expanding types of products, strengthening personnel training and reserve, exploring a wider range of fund compensation, achieving effective risk management of credit guarantee. Strengthen the external environment for the construction of credit guarantee system from the law, credit, supervision, etc.In this paper, the asymmetric information theory and the of market failure theory are used to analyze the effectiveness of credit guarantee in solving SME financing difficulties. Qualitative analysis and quantitative analysis are both used, through calculation of secured compensatory credit rate, re-guarantee security compensatory rates, basic principles of building an effective SME credit guarantee and risk-sharing system and fund compensation system are offered.